CADUSD=X vs. USO
CADUSD=X (CAD/USD) is a currency, while USO (United States Oil Fund LP) is Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Over the past 10 years, CADUSD=X returned -0.91%/yr vs 2.97%/yr for USO. At a 0.12 correlation, their price movements are largely independent.
Performance
CADUSD=X vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, CADUSD=X achieves a -3.19% return, which is significantly lower than USO's 70.32% return. Over the past 10 years, CADUSD=X has underperformed USO with an annualized return of -0.91%, while USO has yielded a comparatively higher 2.97% annualized return.
CADUSD=X
- 1D
- 0.13%
- 1M
- -1.23%
- 6M
- -1.64%
- YTD
- -3.19%
- 1Y
- -3.46%
- 3Y*
- -2.50%
- 5Y*
- -2.42%
- 10Y*
- -0.91%
USO
- 1D
- 8.36%
- 1M
- -6.09%
- 6M
- 64.40%
- YTD
- 70.32%
- 1Y
- 52.40%
- 3Y*
- 20.41%
- 5Y*
- 18.84%
- 10Y*
- 2.97%
CADUSD=X vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CADUSD=X CAD/USD | -3.19% | 4.78% | -7.81% | 2.44% | -5.96% | 0.05% | 2.43% | 4.30% | -7.76% | 7.26% |
USO United States Oil Fund LP | 70.32% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between CADUSD=X and USO is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2006 | 0.12 |
The correlation between CADUSD=X and USO shifts across timeframes, from -0.02 (3 years) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CADUSD=X vs. USO — Risk / Return Rank
CADUSD=X
USO
CADUSD=X vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CAD/USD (CADUSD=X) and United States Oil Fund LP (USO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CADUSD=X | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.93 | ||
| Sortino ratioReturn per unit of downside risk | -2.92 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.23 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | 1.62 | -2.23 |
| Martin ratioReturn relative to average drawdown | -1.35 | 4.37 | -5.71 |
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Drawdowns
CADUSD=X vs. USO - Drawdown Comparison
The maximum CADUSD=X drawdown since its inception was -37.58%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for CADUSD=X and USO.
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Drawdown Indicators
| CADUSD=X | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.58% | -98.19% | +60.61% |
Max Drawdown (1Y)Largest decline over 1 year | -5.22% | -32.49% | +27.27% |
Max Drawdown (3Y)Largest decline over 3 years | -10.90% | -32.49% | +21.59% |
Max Drawdown (5Y)Largest decline over 5 years | -16.26% | -36.23% | +19.97% |
Max Drawdown (10Y)Largest decline over 10 years | -18.20% | -86.75% | +68.55% |
Current DrawdownCurrent decline from peak | -35.05% | -87.47% | +52.42% |
Average DrawdownAverage peak-to-trough decline | -19.72% | -75.35% | +55.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 12.04% | -9.65% |
Volatility
CADUSD=X vs. USO - Volatility Comparison
The current volatility for CAD/USD (CADUSD=X) is 1.05%, while United States Oil Fund LP (USO) has a volatility of 14.93%. This indicates that CADUSD=X experiences smaller price fluctuations and is considered to be less risky than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CADUSD=X | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 14.93% | -13.88% |
Volatility (6M)Calculated over the trailing 6-month period | 3.20% | 40.72% | -37.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.22% | 44.98% | -40.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.12% | 36.69% | -30.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.66% | 39.07% | -32.41% |
Frequently Asked Questions
CADUSD=X and USO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (14.93%) compared to CADUSD=X (1.05%). In terms of maximum drawdown, CADUSD=X dropped -37.58% vs USO's -98.19%.
USO currently has the higher Sharpe Ratio (1.17 vs -0.75), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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